Australian Prudential Regulation Authority (APRA)

The Australian Prudential Regulation Authority (APRA) is a government agency that oversees banks, insurance companies, and superannuation funds in Australia. Its main role is to ensure these financial institutions are safe, stable, and operate soundly so they can meet their commitments and protect people's savings. APRA sets rules, monitors their financial health, and intervenes if an institution faces difficulties. This oversight helps maintain confidence in Australia's financial system and protects consumers from losing their funds due to institutional failures.